Westshore Terminals Income Fund Equity Offering

About this update from Westshore Terminals Investment Corporation

[{"type":"text","content":"\n\n\n\nVANCOUVER, March 7 /CNW/ - Westshore Terminals Income Fund (TSX: WTE.UN)\n(the "Fund") announced today that 3,868,905 Fund Units were issued pursuant to\nthe exercise of Rights issued to Unitholders and a private placement to\n0774327 B.C. Limited, an affiliate of Jim Pattison Developments Ltd. and a\nmember of The Jim Pattison Group. The Units were issued at a price of $10.45\nper Unit and the Fund has received gross subscription proceeds totaling\n$40,430,057.\n\n\nJim Pattison Developments Ltd. and its affiliates exercised all of the\nRights issued to them as Unitholders and Rights acquired in the market, and\nacquired 310,448 Units pursuant to the Rights offering in addition to the\n1,913,875 Units acquired under the private placement. Accordingly, Jim\nPattison Developments Ltd. and its affiliates now hold 11,338,123 Units of the\nFund, being 15.27% of the outstanding Units.\n\n\nCertificates representing the Units issued upon exercise of the Rights\nwill be mailed today to holders by Computershare Trust Company of Canada.\nComputershare will also mail cheques representing the refund of the balance of\nsubscription proceeds paid by those holders of Rights who exercised the\nadditional subscription privilege provided to them and were prorated.\n\n\n","length":1327,"tagName":"div"}]

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